The move comes in line with the ESMA guidelines on 'systems and controls in an automated trading environment' in respect of its European operations.

Denis Jackson, regional general manager Europe, Tibra, comments: "Tibra is committed to industry best practice in all trading operations including compliance. Tibra conducted a rigorous due diligence process in order to identify the most appropriate compliance monitoring software suited to our business needs. We are happy to be working with Redkite on this project."

Matthew Coupe, sales director, EMEA, comments: "Principal trading firms such as Tibra now have the requirement for intelligent and efficient market surveillance tools. To this end, Redkite Financial Markets has turned algorithmic trading scenarios on their heads with a solution that reaches out and detects trading anomalies and potentially abusive trading practices in real-time, in the most accurate manner. We are delighted Tibra has selected the Redkite Surveillance compliance monitoring solution."